It is March 10, 2022. The cheapest-to-deliver bond in a December 2022 Treasury bond futures contract is

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It is March 10, 2022. The cheapest-to-deliver bond in a December 2022 Treasury bond futures contract is an 8% coupon bond, and delivery is expected to be made on December 31, 2022. Coupon payments on the bond are made on March 1 and September 1 each year. The rate of interest with continuous compounding is 5% per annum for all maturities. The conversion factor for the bond is 1.2191. The current quoted bond price is

$137. Calculate the quoted futures price for the contract.

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